Pact: UK TV exports break £2bn mark for first time

Annual revenues from UK TV exports have broken the £2bn mark for the first time, with sales into the US increasing by more than a third, according to latest Pact data.

Those are the headline findings from the UK TV Exports report, compiled for the producer union by 3Vision, which found that revenues hit £2.02bn in 2024/25 compared with £1.82bn in 23/24.

The report, which is sponsored by Fremantle, BBC Studios, ITV Studios, All3Media International, adds that “while conditions remain challenging”, businesses have been “working harder for revenues and finding more innovative ways” to window content.

The results reflect similar findings from Broadcast International’s Distribution Survey in September and underline a return to fortune for UK-based sales firms.

Among a slew of findings, Pact figures point to the ongoing rise in library sales – up by four percentage points y-o-y to make up 44% of the total – which it said had been driven by a “budget-starved market”.

Co-productions struggled to regain recent highs as the US market continues to eschew international partnerships, although revenues were up 5% to hit £126m. That remains some way off the 2022/23 total of £167m, which fell more than a quarter in 2023/24 to £120m.

Key countries

Pact’s report found that overall revenues from the US rose 34% y-o-y to £797m, following a 13% rise in 2023/24. It means the country accounts for 40% of all UK exports.

Australia again came in second place, with revenues up 22% to £195m, while French buyers were third – accounting for £130m of sales – up 61% on the previous year when revenues fell 21%.

Revenues from Italy were up 64% to £48m in 2024/25 following a 23% decline in 2023/24, while double-digit growth was also recorded in Poland (up 26% to £14m), Belgium (up 27% to £16m) and Spain (up 18% to £40m), while Canada was up 19% to £105m.

It was not all positive news, however, with Mexico, South Africa and China reporting the steepest declines in exports. Revenues out of China were down for the second year in a row, falling 44% to £10m, following a 25% decline in 2023/24.

Elsewhere, revenues from India were down 11% to £20m and Turkey saw a 16% drop to £11m, while Japan fell 3% to £7m after last year’s 25% decline.

On a regional basis, North America recorded the highest year-on-year growth of 32% to hit £977m, while Europe was up 18%.

Revenues were down in Latin America and Asia for the third year in a row, down 28% and 29% respectively, while Sub-Saharan Africa showed a significant fall with revenues falling by 50% y-o-y.

Cautious co-pros but strong sales

Finished programme sales remain the largest contributor to overall exports (53%), with y-o-y sales up 5% to £1.07bn but still down on 2022/23’s £1.1bn.

International production continued its upward trend, rising 8% to £349m while format exports grew 13% to £244m.

Rights holders are also proving increasingly adept at monetising content across all verticals, with revenues from licensing ancillary, non-programme rights (such as consumer products) up from a negligible amount five years ago to £212m this year.

TV sales revenue continues to fall. This category (which includes distribution to broadcasters, AVoD and SVoD) accounted for 70% of total exports in 2019/20 but now stands at just 53%. Revenues from broadcasters have proved robust, representing 54% of total TV sales although the report notes this may be due to BVoD deals.

In comparison, SVoD sales declined to a 33% share (down from 35% last year and 44% a year before that).

Commenting on the report, Pact chief exec John McVay OBE, said: “The report shows that yet again despite the global economic challenges, British TV content continues to be attractive to international audiences. Although experiences for each distributor varies, the strength and quality of library catalogues is proving to be important as we navigate these difficulties over the coming years.”

Louise Pedersen, chief exec of All3Media International, said: “Overall the report indicates some encouraging signs, specifically in the US where we are hoping to see further recovery in the pre-sale and acquisition territory. The UK has produced some very strong long-running library titles with proven global appeal – iconic detective series such as Midsomer Murders and warmer family dramas such as All Creatures Great and Small from our catalogue – and these series reliably deliver audiences for our terrestrial buyers and platforms over repeated licence cycles.

“Additionally, our A-list led scripted titles such as Joan performed well and another staple of the UK production sector, the high-end thriller, saw The Tourist attract buyers’ attention across international markets.”

Bob McCourt, chief operating officer, commercial and international, Fremantle, said: “Despite a challenging year for the market, it’s been a strong year for Fremantle and UK content globally. With UK TV exports including The Responder Season 2, Big Mood, and Nightsleeper reaching record highs across the market, we’re seeing renewed confidence and increased demand for British creativity across all 28 territories we operate in.

“Growth in key territories such as the US, France, Italy, Spain and Australia underlines the strength and versatility of our slate – from entertainment and drama to film and documentaries.

“Library content remains an important and dependable part of our business, with catalogue sales playing an increasingly central role in global distribution, which highlights the enduring appeal and value of our storytelling. As we move through 2025, we remain focused on delivering powerful, world-class programming and strengthening partnerships that bring irresistible entertainment to audiences everywhere.”

Janet Brown, president, global content sales, BBC Studios, said: “In a dynamic and unpredictable market landscape, today’s report demonstrates that British storytelling remains a powerful force internationally. BBC Studios is fortunate to work with exceptional creatives across our units, labels, and partners and together we continue to deliver outstanding British IP to audiences worldwide. We are proud to steward one of the most broad and sought-after content portfolios with globally celebrated titles like Doctor Who, Mammals, and Asia.”

Ruth Berry, president, global partnerships & Zoo 55, ITV Studios, said: “Some really encouraging results to this important annual barometer of the UK export market, that I’m pleased to say we’re seeing reflected in our day to day business. While buyers are definitely being selective, there has been an increasingly healthy appetite for exciting titles like After The Flood, Ludwig, and Love Island All Stars, that fit platform and broadcaster creative and scheduling needs.

“The US was our largest export market last year and is expanding day by day, along with Canada and Australia and the Nordics. In addition to strong catalogue sales, with the launch of Zoo 55 we are further maximising the value of our 95,000 hours of content and moving it to audiences, wherever they want to watch it.”